Young people in Bulgaria are expressing significant concerns about their financial futures, according to alarming new data. The first of its kind study, commissioned by the Association “Network for the Development of Personality and Talents” and conducted by the Trend research center, surveyed individuals aged 15 to 29, including students and those already in the…
Starting on October 1, new restrictions imposed by the Bulgarian National Bank (BNB) on housing loans took effect. Under these regulations, commercial banks are prohibited from lending more than 85% of the property’s market value. Additionally, the maximum repayment period for mortgage loans is capped at 30 years, and borrowers’ monthly installments cannot exceed 50%…
According to the latest Global Property Index from international consulting firm Deloitte, Bulgaria boasts the highest number of dwellings per 1,000 people in Europe, with 668 homes for every 1,000 citizens. Spain follows in the second place with 559 dwellings per 1,000 people, while France ranks third with 553. Countries like Germany, Belgium and Norway,…
The Financial Supervision Commission (FSC) has alerted its regulated entities about advancing to the next phase of preparations for introducing the euro in Bulgaria, highlighting the crucial role of the non-banking financial sector. As outlined in the Action Plan for euro adoption, the FSC is tasked with initiating the process of updating information systems in…
Bulgaria risks losing at least 2 billion leva (1 billion euros) in European funding due to the National Assembly’s failure to approve amendments to the Recovery and Sustainability Plan, along with the new chapter and updated roadmap for climate neutrality. Acting Deputy Prime Minister and Finance Minister Lyudmila Petkova warned at a media briefing following…
The Ministry of Finance is working on a budget with a deficit of up to 3% on an accrued basis, the Deputy Minister Martin Danovski has confirmed. This figure aligns with the Maastricht Treaty criteria, which is essential for Bulgaria’s entry into the Eurozone. When asked about the clarity on the main financial parameters for…
The European Bank for Reconstruction and Development (EBRD) has revised its growth forecast for Bulgaria’s economy for the upcoming two years. The bank now expects a slowdown of 0.4% this year, predicting a growth rate of 2.2%, down from previous estimates. Looking ahead to next year, the EBRD has adjusted its projection from 3% to…